Bottomline Financial News

Hindustan Zinc have nearly doubled investor wealth in a month's time after its shares rallied 8.75% on Wednesday to hit a fresh all-time peak of Rs 807 on BSE. The metal stock's market capitalisation has also crossed the Rs 3 lakh crore mark after 6 days of non-stop rally. Hindustan Zinc is also the best-performing metal stock in the calendar year 2024 with a staggering return of 146% year-to-date.

JSW Steel has guided for further growth in its sales volume in the current fiscal after its consolidated steel sales were at an all-time high of 24.78 million tonne in 2023-24 (Apr-Mar), up 11% as compared to the previous year. The country’s largest steel-maker has guided for consolidated steel production of 28.40 million tonne, and saleable steel sales of 27 million tonne this year. “Rising utilisation levels and healthy balance sheets are expected to boost private capex, with investments in energy transition and the government’s Production-Linked Incentive scheme adding tailwinds,” the company said in its outlook. “The outlook for both public and private housing, as well as the auto sector, remains favourable”.

PNB Housing Finance reported a 57% rise in fourth-quarter profit on Monday, helped by steady demand for home loans and a decline in bad loans. Demand for premium and luxury housing has been strong over the last year even as the affordable segment saw demand easing due to high interest rates.

Tata Consultancy Services (TCS) on Friday reported better than expected fourth quarter numbers in a muted macro environment with strong margins and healthy topline growth. Profit after tax (PAT) for the March quarter rose 9% year-on-year (YoY) to Rs 12,434 crore, while revenue from operations increased 3.5% to Rs 61,237 crore.

Tata Consultancy Services (TCS). Apart from this, Anand Rathi Wealth will announce its earnings for three-months ended March 31, 2024 along with three more lesser known companies listed on the exchanges — Eraaya Lifespaces, Metalyst Forgings and Milgrey Finance & Investments Here's a preview of what the numbers might look like for TCS:

₹600 crore in the last year, the committee has highlighted the immediate need for the centre to focus on return on investment and advised that the management should leverage the TIC’s artificial intelligence and machine learning tools to gain a deeper insight into consumer profiles. The management should also reduce the expenditure at the TIC by 50%, for financial year 2024-25; and utilize its services to enhance the company’s content development, distribution and monetization approach, the committee has added.

Carlyle Group on Thursday sold a 1.4% stake in private sector lender YES Bank for approximately Rs 1,057 crore. CA Basque Investments, the Mauritius-based special purpose vehicle owned by Carlyle Group, sold 39,00,00,000 shares of the lender at Rs 27.10 a share, bulk deals data on the BSE showed.

Eicher Motors on Tuesday reported a strong 34.4% year-on-year (YoY) growth in consolidated net profit for the quarter ended December to Rs 996 crore, and this was tad higher than an ETNow poll of Rs 969 crore. Consolidated revenue from operations rose 12.3% YoY to Rs 4,179 crore, which too, was above the estimated Rs 4,048 crore.

Hindalco Industries Ltd is slated to release its earnings for the December quarter later today, and the print is likely to look better led by a robust show by arm Novelis Inc. On Monday, Novelis reported a strong 33% year-on-year (YoY) growth in operating profit, which drove the profit multifold. The company posted a net income of $121 million for the quarter, compared to $12 million a year ago.

The combined revenue of the companies that have declared their December-quarter financial results so far has risen 10.95% year-on-year, while net profits have risen 25.08%, a Mint analysis showed. Excluding the companies in the banking, financial services and insurance (BFSI) sectors, the topline grew 5.29%, while profits were up 38.59%.

Hindustan Petroleum Corporation on Thursday said its net profit for the quarter ended December tripled year-on-year (YoY) to Rs 529 crore. Sequentially, however, the bottomline slumped by nearly 90%.

The combined revenue of the companies that have declared their December-quarter financial results so far has risen 18.1% year-on-year, while net profits have risen 16.2%, a Mint analysis showed. Excluding the companies in the banking, financial services and insurance (BFSI) sectors, the topline grew 5.3%, while profits were up 7.1%.

growth in earnings for the quarter ended December. However, the growth in both topline and bottomline is expected to be in single digits because of a weak show by the oil-to-chemicals (O2C) business. Meanwhile, numbers across parameters are expected to drop sequentially mainly because of the O2C vertical. Consolidated revenue of RIL is likely to rise 5% YoY to Rs 2.31 lakh crore, but fall about 2% sequentially, according to the average of estimates given by nine brokerage firms. Consolidated net profit is expected to grow 9.3% YoY to Rs 17,257 crore, but drop nearly 1% sequentially. Earnings before interest, taxes, depreciation and amortization or EBITDA is expected to increase 4% YoY to Rs 40,030 crore, but fall sharply by 11% sequentially. The toy-to-telecom conglomerate is scheduled to release its earnings after market hours on Friday.

Asian Paints Ltd consolidated net profit jumped 35% on year to ₹1,447.7 crore in the December quarter helped by a double-growth in volumes and as operating profit got a boost from lower raw material costs. The country’s largest paint-maker’s volume growth of 12% was largely in line with market expectations, while the bottomline was marginally ahead of Street estimates. Consolidated sales, meanwhile, rose by a little over 5% to ₹9,074.9 crore. The company has guided for its volume momentum and the softness in raw material prices sustaining in the current quarter.

HCL Tech Ltd board has recommended an interim dividend payout of Rs 12/share. The dividend payout was considered and recommended along with the earnings for the December quarter. The company has fixed January 20 as the record date to determine eligible shareholders for the dividend payout. The country’s third-largest IT service provider on Friday reported a good set of numbers as the consolidated net profit rose 13.5% sequentially to Rs 4,350 crore.

Tata Consultancy Services (TCS) jumped over 3% to the day’s high of Rs 3,860.25 on the NSE after the brokerages remained upbeat on IT bellwether following its Q3 results wherein it beat revenue expectations even as the bottomline trailed Street view. Morgan Stanley upgraded the stock to Overweight while raising its price target post the quarterly performance while Motilal Oswal and Nuvama reiterated their buy stance on the counter. Kotak Institutional Equities reiterated an ‘Add’ rating on TCS shares. TCS on Thursday reported higher-than-expected revenue for the quarter ended December 2023, but the bottomline trailed expectations. India’s largest software service provider reported a 2% year-on-year (YoY) growth in consolidated net profit for the quarter to Rs 11,058 crore, and revenue increased by 4% to Rs 60,583 crore. Also Read: TCS Q3 Results: Profit rises 2% YoY to Rs 11,058 crore; revenue up 4% Here is what they recommend!

The company is seen reporting a nearly 5% sequential rise in consolidated revenue to Rs 27,959.40 crore, and net profit is expected to increase by nearly 7% to Rs 4,085 crore, according to the average of estimates given by 11 brokerage firms. On a year-on-year (YoY) basis, the topline is expected to rise 4.7%, while the bottomline may drop a marginal 0.3%. In constant currency terms, analysts expect HCLTech’s revenue to grow 4.6% sequentially in the quarter gone by. The country’s third largest software service provider is scheduled to release its earnings on Friday, 12th January. The growth in the topline is likely to be led by the products and platform segment, with Nuvama Institutional Equities pegging a 20% sequential growth for this segment. The services vertical is expected to report a 2.5% sequential growth, driven by the Verizon deal and integration of the recently acquired German automotive engineering solutions provider ASAP Holding.

Stock to buy today: Share India Securities shares have been in a bull trend since March 2023. After bottoming out at around ₹1,015 apiece in mid of March 2023, Share India Securities share price came out of the base building mode and it has been climbing to new life-time highs on a regular basis.

new-age companies that use technology to do things differently and better, and a soaring stock market. The latest ET 500 rankings, the definitive list of the biggest publicly traded companies operating in the world’s fastest-growing economy, reflect the changing face of India Inc. At the aggregate level, the incumbent companies show manageable debt and improving ability to service it, adequate equity and healthy top-line and bottomline growth.

But was it liquidity alone that drove this rally in stocks or were there fundamental reasons as well backing them? One possible way to find this out would be to see the earnings performance of the companies. Data crunching done by ETMarkets showed that 23 companies reported atleast a double-digit year-on-year (YoY) growth in both revenue and profits for three consecutive quarters. And guess what? About seven of them have given multibagger returns year-to-date, and five of them have done that only in FY24. The seven ninjas of Dalal Street are Kaynes Technology, Neuland Laboratories, Wonderla Holidays, Elecon Engineering Co, Safari Industries, Sonata Software, Sanghvi Movers, and Power Mech Projects.

From 87,632 far fires reported across Punjab, Haryana, Rajasthan NCR districts, Uttar Pradesh NCR and DElhi- NCR in 2020, the number is down to 39186 in 2023. Biggest contributor Punjab shows a clear decline- from 83,002 far fires in 2020, 49,922 in 2022 down to 36663 in 2023. A similar trend is seen in Haryana.